Miami, FL and New York, NY, Dec. 13, 2024 (GLOBE NEWSWIRE): Digihost Technology Inc. (“Digihost””) (NASDAQ/TSXV: DGHI), an innovative energy infrastructure company developing cutting-edge data centers, and NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a leading advanced nuclear energy and technology company focused on developing portable, clean energy solutions, today announced the signing of a Memorandum of Understanding (“MOU”) to advance the transition to carbon-free energy at Digihost’s 60 megawatt upstate New York power plant.
This strategic collaboration leverages NANO Nuclear’s cutting-edge advanced nuclear reactor technologies in development to provide clean, reliable, and scalable energy for Digihost’s high-tech operations, including AI-driven data centers and digital asset colocation programs. The non-binding MOU is the first step in a broader strategic relationship aimed at positioning both companies as leaders in clean energy solutions. The MOU establishes a framework aimed at enhancing public understanding and community support for nuclear energy, and particularly advanced nuclear technologies such as NANO Nuclear’s ‘ZEUS’ and ‘ODIN’ portable microreactors, which are designed to reliably and safely provide consistent and carbon-neutral baseload energy.
This collaboration signifies a pivotal step toward zero-emission energy solutions for Digihost by transitioning its existing power infrastructure to leverage advanced nuclear energy. In the interim, NANO Nuclear will assist in optimizing Digihost’s existing gas power infrastructure to ensure energy stability while nuclear deployment is developed. As part of the collaboration, NANO Nuclear will provide consulting services to Digihost to support the planning and execution of the project, which will include regulatory advice, site assessment, roadmap development and stakeholder engagement.
“The opportunity to collaborate with NANO Nuclear represents a bold move toward achieving our sustainability goals,” said Michel Amar, CEO of Digihost Technology. “By leveraging NANO Nuclear’s advanced nuclear reactor technology, we gain the potential ability to scale quickly across our existing power assets following successful initial deployment. This collaboration positions Digihost at the forefront of delivering reliable, modular baseline power, enabling the development of Tier III HPC data centers in locations previously deemed unfeasible. This strategic move also allows us to capitalize on the rapidly expanding Tier III data center market, further solidifying our leadership in the industry.”
The deployment of NANO Nuclear’s advanced nuclear reactor technology is expected to replace Digihost’s existing infrastructure, advancing Digihost’s commitment to carbon neutrality and providing reliable baseload power for Digihost’s expanding data center operations. The project’s timeline aligns with the NANO Nuclear’s overall expectations for licensing and deployment, with reactor integration within Digihost’s operations targeted for 2031. Before deployment, the companies will conduct a comprehensive site assessment of Digihost’s location, initiate site preparations and develop a comprehensive, phased implementation strategy, collaborate on the design, construction, testing, and commissioning of an advanced microreactor power system, and work together on regulatory and licensing activities. The companies will also look to further memorialize their relationship with definitive agreements.
“This MOU with Digihost highlights the demand for innovative, clean energy solutions that will be required to meet the growing power demands of next-generation digital ecosystems, and NANO Nuclear’s ability to meet that demand,” said Jay Yu, Founder, Chairman and President of NANO Nuclear. “We look forward to leveraging our consulting expertise to help position Digihost as an industry leader in adopting innovative and sustainable energy solutions and optimize its use of current energy solutions in the leadup to a wholesale overhaul of its energy sources, and to further exploring opportunities with Digihost as we progress in the coming years towards licensing and deployment of our reactors.”
“We are excited to collaborate with Digihost to redefine energy solutions for high-tech industries,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “This MOU marks a significant step toward delivering carbon-free, scalable energy while ensuring operational reliability. It also allows us to refine and adapt our approach to addressing large-scale energy demands that were previously outside the focus of our microreactors, equipping us with invaluable insights and data to improve the scalability of our power systems and expand our range of solutions in the future.”
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